Antam’s Gold Business Continues to Gain Momentum in 2025

The Indonesian mining group PT Aneka Tambang Tbk (ANTM) has posted a series of developments that underscore the resilience of its gold operations and the broader positive sentiment surrounding the sector. The company’s activities span the exploration, extraction, processing, and marketing of nickel ore, ferronickel, gold, silver, bauxite, and coal, and it also manufactures stainless steel and provides industrial‑area management services. As a diversified metals & mining player listed on the Frankfurt Stock Exchange, Antam’s performance is closely watched by investors in the materials sector.

Rising Gold Prices and Buy‑Back Incentives

On 19 November 2025, Antam’s gold bullion price increased by Rp 21 000 per gram, reaching Rp 2 204 000 (Logam Mulia). This incremental rise not only boosts the company’s revenue from direct sales but also strengthens its buy‑back program. The buy‑back price, which provides an incentive for existing gold holders to return their bullion, rose by 61.46 % for the current calendar year. The significant lift in buy‑back terms reflects a broader trend of higher gold prices, which in turn benefits Antam’s earnings from the gold segment.

Operational Milestones Boosting Confidence

In late November, the Indonesian Ministry of Energy and Mineral Resources (ESDM) restored operating licences to two Freeport Indonesia (PTFI) mines in the Mimika district of Central Papua. The re‑authorization is viewed as a positive signal for Antam’s gold output, as PTFI’s activities are directly linked to the company’s mining operations. Anticipated stability in gold supply has been highlighted in recent projections, suggesting that Antam’s gold sales could rise through the remainder of 2025 and into 2026.

Market Context and Investor Sentiment

The BISNIS.com‑reported Business‑27 index gained marginally on the day, supported by strong performances from several constituent stocks, including Antam. This uptick reflects growing investor confidence in the materials sector, a sentiment that aligns with Antam’s favorable operational and pricing developments.

Summary

  • Gold bullion price up by Rp 21 000 per gram on 19 Nov 2025, reaching Rp 2 204 000.
  • Buy‑back price surged by 61.46 % for the year, offering attractive returns for gold holders.
  • ESDM reinstated licences to Freeport Indonesia mines, bolstering Antam’s gold production prospects.
  • Business‑27 index rose modestly, indicating broader market support for materials stocks.

These events collectively reinforce Antam’s position as a leading gold producer in Indonesia and suggest a continuation of its upward trajectory in 2025 and beyond.